Sitronics Sitronics

Aktivs

As of March 2013, Sitronics was deprived of any managerial functions. "He owns about 37% of the system integrator NVision Group, as well as 78% of the shares of NIIME and Micron OJSC and a number of other assets, but all of them are under the operational management of RTI Group," explains the source ComNews. As for the current employees of Sitronics, in general, they are preparing for the fact that the company will find a new life: a strategy is being developed, a place is being sought for an office and new employees. Most of the former employees quit - this process began last fall. "

In March 2013, AFK worked out the possibility of buying out Sitronics from RTI Group.

"Management felt there was no point in burying a good brand," the source says. At the same time, RTI will buy microelectronic assets from Sitronics (Micron, joint RTI Group with Rusnano, as well as some others). He will buy RTI Group and a stake in NVision, which as a result of the reorganization was in the possession of Sitronics.

As a result of receiving money for these assets, the debt burden on Sitronics will significantly decrease. According to the plan of the management of Sistema, the updated Sitronics will receive from the parent company its share in Navigation and Information Systems OJSC (NIS GLONASS) and will focus on navigation services. Sitronics also retains 48% of the Greek telecommunications equipment manufacturer Intracom Telecom and a number of other assets.

Board of Directors

2024

As of September 2024, Chairman of the Board of Directors:

• Pozhidaev Nikolai Nikolaevich

2019

As of June 2019, Chairman of the Board of Directors:

• Alexey Borisovich Katkov

Members of the Board of Directors:

• Pavel Vladislavovich Kuznetsov
• Anatoly Gennadievich Panarin
• Ushatsky Andrey Eduardovich
• Anna Arsenovna Shakirova

Business directions

Expert office - model of interaction with regions for the implementation of national projects

The launch of the "Expert Office" - the competence of SITRONICS to assess the maturity and development of the potential of the digital infrastructure of the regions of Russia - took place in the first quarter of 2019. At the CIPR in May 2019 in Kazan, SITRONICS demonstrated the role and structure of the new division, the first results of its work and presented its vision of regional cooperation.

The expert office of SITRONICS works in a number of regions: agreements on strategic cooperation have already been signed with Novosibirsk, Kaluga, the Republic of Ingushetia. The first joint pilot launches as part of the implementation of national projects will take place before the end of the year.

The company uses many years of experience in the successful implementation of large-scale digital projects based on Russian technologies. To date, the competence of the SITRONICS expert office is focused in four areas: the strategy and macro-analysis unit is responsible for the development of digital strategies of the regions, the business analysis unit accumulates industry specialists in transport, healthcare, smart city, etc., the regulatory unit is responsible for preparing recommendations for adjusting and supplementing the regulatory legal framework of the region and the financial unit is working on finding optimal ways to finance projects.

As an expert office for the implementation of national projects, SITRONICS also provides consulting support to the regions in the formation of regional passports of national projects, including in terms of applying digital solutions in such areas as Healthcare, Education, Safe and High-Quality Roads, Housing and Urban Environment, Ecology and Digital Economy.

"We are working to create a new model of cooperation between regional and federal authorities, development institutions and private business, the purpose of which is the digital development of regions as part of a strategy for the implementation of national projects. In addition to the expert assessment, for which SITRONICS has all the necessary resources, we see the potential in creating a partner ecosystem on the ground, which will include state corporations, technology companies, and local players, "- Marukhin Alexey, President of SITRONICS JSC.

In 2019, Rosatom, represented by RuSat Infrastructure Solutions, NIPS PJSC (ROSTEC Group), NETBYNET (a subsidiary of MegaFon PJSC), joined the pool of existing strategic and technological partners of SITRONICS. The expansion of the partner base guarantees the possibility of using the most advanced technological solutions in the formation of complex digital strategies of the regions. At the same time, SITRONICS own technological expertise allows implementing a flexible modular approach in digital projects and launching projects at any stage of regional infrastructure maturity.

Telecommunications Solutions

Revenue in 2007 amounted to $569.8 million.

The head of the direction is Pavel Pavlovsky.

This direction became the progenitor of the modern Sitronics. In 1993 Czech Republic , STROM Telecom , a provider of low-cost solutions for the gradual digitization of analog networks of telecom operators, was created in. In 1995, the company received its first order abroad - from (MGTS Moscow City Telephone Network). In the mid-nineties, the Russia telephone paid a subscription fee without taking into account whether the subscriber used the phone. At the same time, there were proposals to change this disadvantage. STROM telecom, based on the collection of data from stations, has developed a calculation system for MGTS based on valid minutes of telephone conversation. This portfolio was gradually supplemented with a system for downloading data from digital stations, and soon Sitronics TS began producing stations itself.

In 1998, STROM Telecom bought the Czech company Tesla, which owns a plant for the production of equipment. In 2002, STROM Telecom was announced by Sistema and entered the Scientific Center Concern. In 2006, the telecommunications business of Sitronics was supplemented by the Greek manufacturer Intracom Telecom, 51% of which AFK Sistema bought from Intracom Holdings.

Projects:

• MTS Billing System

Information Technology

Revenue in 2007 amounted to $763.3 million.

The head of the department is Vladimir Yasinsky.

Sitronicses (until June 2008 it worked under the Quasar-Micro brand) provides management and technological consulting services, implementation of enterprise management systems, system integration, software development, distribution, service and training.

Projects:

• CRM system in P&ID

Distribution Business Sale

In April 2009, the company sold seven legal entities involved in the distribution of computer equipment in Russia, the CIS and Baltic countries, as well as in Hungary and the Czech Republic. Distribution accounted for about 70% of the revenues of the Sitronics division (formerly Kvazar-micro) and 30% of all revenues of Sitronics in 2008 - $611 million. The distribution business is seriously suffering from the crisis and is experiencing great needs for working capital, said Sergei Aslanyan, president of Sitronics. In addition, this business had a very low profitability - an average of 2% in the market, added Irina Lanina, vice president of the company. According to her, the IT division of Sitronics will now focus on system integration.

The assets were estimated at $50 million, but the deal was cash-strapped, Lanina said. The distribution business was sold to offshore Melrose Holding, controlled by a member of the board of directors and ex-president of Sitronics Utkin. It was from this offshore in 2004 that Sitronics acquired 51% of Kvazar-micro for $28 million. In February 2008, the company agreed to redeem the remaining 49% of Kvazar in two tranches: $116.9 million (part of the amount paid 3.07% of Sitronics shares) for 36% in March and $50 million for the remaining 13% in July. Then the rebranding of "Kvazar" began. But Sitronics owed Melrose $50 million, which it pledged to pay within two years. Now the company has decided to pay off the former president of the distribution business.

These assets will again be renamed "Quasar-micro," Utkin told Vedomosti. He does not exclude that in 2009 revenues from the distribution of computer equipment may fall by 50%, but he hopes that his team's experience will be enough to withstand a difficult economic situation.

Microelectronic solutions

Revenue in 2007 amounted to $217.2 million.

The head of the direction is Gennady Krasnikov.

Microelectronic business "Sitronics" causes the most controversy around the company. It was created on the basis of the Research Institute of Molecular Electronics and the Mikron plant (the city of Zelenograd), one of the largest centers for the production of electronics in Russia. Micron itself traces its history back to 1964. Then, on the premises of the Component plant, the first line for the production of a chip-free planar bipolar n-p-n transistor was organized and launched. From 1966 to 1970, for the first time in the country, digital and analog integrated circuits of mass use were developed and created at Micron. Subsequently, the plant produces an element base for the Elbrus-2 computer, microcircuits for providing the Mars-Venus program, and a number of products for the defense industry.

In 1991, a prototype of a 100 mm color liquid crystal display was developed at Micron. Soon, Micron received the right to enter foreign markets on its own and began serial supply of integrated circuit crystals for Samsung.

 In 2001, NIIME and Micron became part of the Scientific Center concern, later renamed Sitronics, becoming the parent company of the Microelectronic Solutions business area. Also in this area is the Voronezh semiconductor plant "VZPP-Micron."

At the end of 2007, Micron completed the installation of a clean room and production line for the production of EEPROM technology chips using the 180nm process.

In December 2008, plans were announced to convert 180nm production to 90nm. The amount of required investments is $150 million. To attract them, Sitronics is negotiating with the state corporation Rusnano.

In May 2009, Sitronics plans to announce a tender to select equipment suppliers to create a 65-45 nm topological chip production. It is scheduled to launch in 2012.

Consumer Services and Products

Revenue in 2007 amounted to $69.3 million.

Head of Department - Sergey Obreschenko

Provides contract electronics manufacturing services for telecommunications and IT companies, as well as for third-party consumer electronics manufacturers. Together with ZTE Corporation (PRC) in 2008 in China, Sitronics created SITRONICS-ZTE Ltd. for the production of telecommunications equipment, communication systems and terminal equipment.

At the end of 2008, Sitronics stopped assembling consumer electronics, and in April 2009 decided to temporarily suspend the construction of a plant in China for a joint venture with ZTE, in which the Russian company owns 51% of the shares.

Venture Capital Fund in Armenia

In late 2009 - early 2010, the Armenian government and the Sitronics company will create a venture capital fund, said Bagrat Yengibaryan, general director of the Armenian Enterprise Incubator fund. The authorized capital of the fund will be $40 million, within two to three years it may increase to $70 - 80 million, the fund does not yet have a name.

Vice President of Sitronics Sergey Slotrechenko confirmed this information to CNews ://^[1]. Negotiations on attracting investments to the fund are now underway with world development institutions, Slotrechenko said. At the same time, "Sitronics" does not claim either a controlling stake in the fund or to manage it, so as not to "scare off external investors."

According to Vache Kirakosyanyan, Head of the Information and High Technologies Department of the Ministry of Economy of Armenia, from the authorized capital of the venture capital fund from $3 to $6 million will be spent on creating a sowing fund to create projects at the initial stage. The projects selected by the venture fund will be implemented at the Mars radio-electronic plant. It was built in 1988-94. for the production of printed circuit boards and radio engineering, but currently the production lines of the plant are not loaded, and the technologies, according to Kirakosyanyan, are outdated.

In 2003, the Mars plant was transferred to Russia as part of the restructuring of Armenia's debt, the Federal Property Management Agency estimated it at $56 million. In 2008, the plant came under the management of Sitronics. This summer, Armenian Prime Minister Tigran Sargsyan noted positive shifts in the work of the enterprise: the repayment of wage and tax debts began, as well as the restructuring of Mars debt to the Armenian government (about $0.5 million).

Together with the Sitronics plant, the institutes of materials science, mathematical machines and automated control systems, which will be combined into research institutes, have been transferred. According to Kirakosyanyan, a special economic zone with simplified taxation and customs regime will be created on the basis of Mars and the Research Institute. Within the framework of the zone, the development of projects "Sitronics" and a venture fund will be carried out. The zone will be of a scientific and technical nature, says Obreschenko from Sitronics. It will use the existing potential of Armenian innovative enterprises in the high-tech sphere, as well as the capabilities of the Armenian diaspora in the United States. Within the framework of the Sitronics zone, it will create an exhibition center, working laboratories and a high-tech zone.

Yuri Ammosov, scientific director of the Innovation Institute at MIPT, recalls that Russian IT companies already have experience in transferring part of their business to Armenia, in particular, Vested Developed has placed offshore programmers in this country. But, according to the expert, so far Sitronics has only reached an agreement to attract anchor investments from the World Bank, IFC and the government of the United Arab Emirates. "Anchor investments are money on the basis of which you can start making a fund, but receiving them does not mean creating," adds Ammosov. "Commitments to anchor investments are easy enough because in the event of failure (6 months to 1 year) they can be withdrawn without consequences."

Clients

The largest consumers of many products and services of Sitronics are the enterprises of the parent AFK Sistema. MTS could not debug and run the billing system developed by Sitronics for more than a year. They say that the operator's employees rewrote the software by more than half. In addition, MTS "strained a lot" when Quasar-Micro (a subsidiary of Sitronics) introduced an ERP system to it. MTS is also the largest consumer of SIM cards produced at Micron.

Performance indicators

2022: Revenue growth by 9.3% to RUB 37.536 billion

At the end of 2022, the revenue of Sitronics Group (part of AFK Sistema) increased by 9.3% - to 37.536 billion rubles. In the ranking " TAdviser100: The largest IT companies in Russia 2023," such an indicator allowed the company to take 13th place.

History

2024

Sergey Tkachenko - President of Sitronics Group

On September 6, 2024, Sergei Tkachenko took office as president of Sitronics Group, replacing Nikolai Pozhidaev in this post. Prior to joining the new team, he served as Vice President for Information Technology of AFK Sistema. Learn more here.

DIT of Moscow sued millions from Sitronics for weak protection of schoolchildren from the Internet

In mid-June 2024, it became known that the Moscow Department of Information Technology (DIT) won a trial with Sitronics in the case of insufficient protection of schoolchildren from harmful content. The defendants will pay a penalty of more than 2 million rubles.

In November 2021, DIT and Sitronics signed a state contract for the provision of communication services for the executive authorities of Moscow. In accordance with the technical assignment, the contractor had to provide content filtering in those institutions where minors have access to the Internet. This system was supposed to completely protect children from information that could harm their health and development. The main criterion for effective filtration was declared "the lack of ideas or instructions on the identification or elimination of violations of the current legislation by the supervisory authorities, including the prosecutor's office, identified by them when checking places of access to the Internet."

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mos.ru

However, interdistrict prosecutors of administrative districts of the capital revealed these violations. It was established that in 20 Moscow schools and colleges, protection was not reliable enough. Moreover, Sitronics was the only telecom operator that provided Internet access services on the basis of a contract concluded in these educational institutions.

As a result, DIT of Moscow sent a claim to Sitronics, demanding to pay a fine of 10.35 million rubles for violating the terms of the contract. The company rejected the claims, stating that the Internet resources indicated in the prosecutor's office's submissions were not included in the Unified Register of Domain Names, Internet site page pointers and network addresses that allow identifying sites containing information prohibited for distribution in Russia. Nevertheless, the court partially satisfied the claim of DIT, obliging the defendants to pay 2.07 million rubles.^[2]

Opening of programming laboratory at VSU

programming The Sitronics Group laboratory was equipped as part of a project Ministry of Education and Science of Russia to create competence centers on the basis of universities to build personnel scientifically and technical potential for various. industries economies Sitronics announced this on February 20, 2024. More. here

2023

Industrial partner of the advanced engineering school in VSU

Sitronics Group will act as an industrial partner of the advanced engineering school on the basis of Voronezh State University. Sitronics announced this on December 14, 2023. Read more here.

Sitronics Group acquired a stake in Perm Shipyard

On October 13, 2023, it became known that Sitronics Group acquired a stake in Perm Shipyard from its owner, the Perm Territory Development Fund. Read more here.

Partnership with N.I. Lobachevsky Nizhny Novgorod State University

On June 1, 2023, Sitronics Group announced the expansion of the partner scientificallyeducational network and will act as a partner, [[Nizhny Novgorod State University named after N.I. Lobachevsky (NNSU)|Nizhny Novgorod State University named after N.I. Lobachevsky (NNSU). The company plans to work closely with the university in the field of retraining and advanced training of students and specialists of the university, the implementation of projects in the field of IT as well as interaction with the Digital Technologies Scientific and Educational Center. Smart City Its main profile will be the development of technologies and personnel training for the development of this area of ​ ​ digitalization. More. here

Discussion of cooperation plans with VSU

At Voronezh State University, a meeting was held between the President of Sitronics Group Nikolai Pozhidaev and the rector of the university Dmitry Endovitsky to discuss further plans for the development of cooperation. Sitronics announced this on April 4, 2023. Read more here.

Agreement with MTUCI in the field of AI development, cybersecurity and IT personnel training

Sitronics Group and MTUSI will collaborate on AI development, cybersecurity and IT personnel training. The university announced this on February 8, 2023. Read more here.

2022

8th place in the TAdviser rating "The largest providers of information security outsourcing services in Russia"

Sitronics ranked 8th in the ranking of the largest providers of outsourcing information security services in Russia, prepared by TAdviser in March 2024 based on the companies' revenue from relevant services for 2022. Read more here.

Data for 2022

9th place in the ranking "Largest IT suppliers in Russian banks"

Sitronics took 9th place in the TAdviser rating, prepared on the basis of revenue from the implementation of IT projects in Russian banks in 2022 and published in December 2023. Read more here.

3rd place in the ranking "The largest participants in the Russian unified communications market"

Sitronics ranked 3rd in the TAdviser ranking, based on revenue from unified communications projects in Russia in 2022 and published in December 2023. Read more here.

6th place in the ranking "Largest IT suppliers in the public sector of Russia"

Sitronics ranked 6th in the ranking TAdviser prepared based on revenue from the implementation IT of projects public sector Russia in 2022 and published in November 2023. Read more here.

Purchase over 50% Emperiu

On August 29, 2022, it became known about the sale of more than 50% of Emperium to Sitronics Group, a member of AFK Sistema. The financial terms of the transaction were not disclosed. Read more here.

Cooperation with NSU for the development and implementation of digital and production technologies

Sitronics Group and Novosibirsk University on August 23, 2022 announced the start of cooperation with the aim of developing and introducing digital and production technologies. Read more here.

Agreement with Greenatom on the creation of software systems for EPCS NSR

Greenatom signed an agreement with Sitronics JSC, a member of Sistema AFK, on the creation of software systems that will ensure the operation of five of the nine functional subsystems of the Unified Platform for Digital Services of the Northern Sea Route (EPCS NSR). This was reported on July 7, 2022 in Greenatom. Read more here.

Inclusion in the working group "Smart City" of the Ministry of Construction of Russia

Sitronics Group on January 12, 2022 announced the inclusion of the Ministry of Construction of Russia in the Smart City working group.

President of Sitronics Group Nikolai Pozhidaev took part in meetings of the updated composition of the group for the implementation of the Smart City project. The company has experience in the design and implementation of individual elements of Smart City in various regions and will become an active participant in the Committees of the working group.

New experts joined the work on the project - representatives of the Ministry of Construction, Ministry of Digital Development, the Ministry of Health, the Ministry of Culture, constituent entities of the Russian Federation and regional departments, heads of non-profit and public organizations, agencies, as well as top managers of the largest companies, including Sitronics Group.

Sitronics Group develops and implements digitalization technologies that can ensure maximum security and optimization of intelligent processes. The group of companies has accumulated significant competencies in creating solutions for Smart City from the introduction of video surveillance and analytics based on artificial intelligence to the development of intelligent transport traffic control systems, situation centers, and the design of smart urban lighting systems.

In total, within the framework of the working group, there will be 19 Committees dedicated to various areas of urban development, including those that were not previously taken into account in the Smart City Standard. The committees will work in the following areas: issues of feedback with citizens,, HOUSING AND PUBLIC UTILITIES urban environment,,,, social construction power ecology sphere,,,,, medicine science education culture, entrepreneurship, security, youth policy,,, transport sport geo-information technologies, digitalization, interregional cooperation.

This approach will allow in the future to form or update in each of these areas the methodological base for the implementation of digitalization - these will be sets of standard and understandable solutions, with prescribed targets, control points and predicted results. On the basis of understandable and clear standards for municipalities and regions, the issue of the possibility of financing such events will be worked out. In fact, a new mechanism for multifunctional expert assessment of decisions, documents and projects will be created, taking into account the possibilities achieved during the synchronization of national projects.

2021

Revenue growth by 93.8% to 29.2 billion rubles

Sitronics Group (part of AFK Sistema), a Russian multidisciplinary IT company, April 26, 2022 shared with TAdviser unaudited consolidated financial results, prepared in accordance with IFRS for the full year ended December 31, 2021. The company's revenue in the reporting period increased by 93.8% to 29.2 billion rubles, which allowed her to take 21st place in the ranking of TAdviser100: The largest IT companies in Russia 2022. OIBDA increased by 25.5% year-on-year to RUB 2.5 billion. Net profit amounted to 709 million rubles.

Sitronics almost doubled revenue through the development of consulting, outsourcing and technical support services
Photo: sistema.ru

As specified in Sitronics Group, revenue in 2021 increased due to development IT services in the field of,, consulting outsourcing technical support and customization () software for ON the client - revenue in this segment for the year increased by 435.2%. Also, the implementation of high-tech digital solutions and hardware and software systems for the marine industry and, navigation with which the company's product portfolio was expanded in 2021, had a significant effect on revenue growth. In terms of services video surveillances video analysts and revenue growth, the year-on-year amounted to 26.6%. The segment of own software development for the same period showed an increase of 19.3%.

The largest shares in the company's revenue in 2021 fell on the areas of software distribution and sales of proprietary products (23.2%), production and distribution of IT equipment (21.6%), and the provision of IT services (15.5%).

In the industry structure of revenue in 2021 from the provision of services and the supply of solutions, 33.5% are accounted for by telecommunications, 20.3% - by the public sector, 19.3% - by industry and the fuel and energy complex, and 13.2% - by the financial sector.

As the President of Sitronics Group Nikolai Pozhidaev noted, in 2021 Sitronics Group began to actively implement an updated strategy - focused on the development of its own solutions for the digital transformation of such key sectors of the economy as the fuel and energy complex, mining and processing industries, transport, marine industry and shipping, and also launched the development and production of its own IT equipment.

"The results of the year show that our efforts to transform the business towards creating our own domestic intellectual solutions are yielding good results. And the current market situation confirms the fidelity of the vector we have chosen, "the top manager added.

In 2021, Sitronics Group has grown in new areas of business - integrated developments in the field of digitalization of the maritime transport and logistics industry of Sitronics KT and technologies for the production of satellite and micro-satellites of Sputnik. The field of activity included developments for the development of digital services based on satellite data.

To solve the problems of digital transformation of Russian enterprises, Sitronics Group has launched the development and production of its own server equipment in Novosibirsk. The group's product portfolio has been expanded with solutions for digitalization of the industry based on video analytics, automation, IoT systems and software.

In 2021, Sitronics Group also began to develop electric charging infrastructure and services for electric transport in Russia under the Sitronics Electro brand, launching a network of charging stations for personal and public transport.

According to Alexei Katkov, Chairman of the Board of Directors of Sitronics Group, Managing Partner of AFK Sistema, with the effective use of the opportunities opening up for the IT industry due to an increase in domestic demand for domestic developments, the company should show steady growth in 2022.

"The company has significantly strengthened the IT service area, which is important for Russian customers, and has brought to a qualitatively new level the opportunity to develop new solutions. We see serious potential for further business growth in such a relevant area as the provision of satellite data for Russian cartography, geodesy, navigation and shipping. The company's offshore intellectual developments, for example, autonomous navigation, are also promising, "said Alexey Katkov.

"Sitronics" "killed" the brand "NVision Group"

Sitronics Group decided to abolish the NVision Group brand. On October 22, 2021, TAdviser was informed about this by a source close to the company and confirmed in its press service. At the same time, the legal entity of NVision Group JSC will remain, as it owns licenses and certificates, including FSTEK, FSB, Ministry of Emergencies and Roskomnadzor. The abolition of the NVision Group brand is associated with a rebranding, as a result of which all assets of Sitronics Group will operate under a single brand. Read more here

Agreement with Altai State University to develop projects for the digital transformation of the agro-industrial complex

On October 11, 2021, Sitronics Group signed an agreement of intent with Altai State University to implement complex projects in the field of digital technology introduction in various sectors of the economy, including the agro-industrial complex.

Within the framework of the agreement, the organizations agreed to participate in the development of materials for the implementation of projects, the development of design and working documentation, to jointly manufacture and supply equipment, and to jointly implement projects.

Our company is developing comprehensive solutions for the digital transformation of strategic sectors of the economy. Sitronics Group experience and expertise can be useful for the agro-industrial complex and the formation of the digital competencies of graduates necessary for it. We implement digital land monitoring projects, including using data obtained from our own satellites, as well as create platforms for analytics of the received information, digital models of processes and systems. With the help of our solutions, you can assess and predict the state of farmland, the ecological situation and the biodiversity of territories, "said Pavel Dreiger, vice president of software products and solutions at Sitronics Group.

Altai State University is in the stage of effective implementation of its strategic projects in cooperation with industrial partners for October 2021. From this point of view, we welcome the initiative proposals for cooperation with Sitronics Group. We signed an agreement and held productive negotiations. We discussed cooperation options in the following areas: digitalization of the educational process, development of the university's IT infrastructure, transition to domestic software products and development and implementation of strategic projects. We agreed that we will choose priority areas, determine the participants in the implementation group and begin to jointly promote them in 2021-2022. Altai State University is confident that cooperation with Sitronics Group will be long-term and effective, - commented the rector of Altai State University Sergei Bocharov.

Launch of mass production of servers at the Lampiris plant

Sitronics Group on October 8, 2021 announced the start of mass production of servers under its own brand. The production line at the Lampiris plant was launched in the presence of the Deputy Governor of the Novosibirsk Region Sergei Semka.

One of the most important vectors for the development of Sitronics Group in 2021 was the launch of its own production of IT equipment in Russia to solve import substitution problems. For the release of the first line of servers, the x86 architecture was chosen. Computing server solutions based on this processor are the most common in all world markets. With high performance and scalability, these servers enable more efficient data center space utilization and lower overall costs.

Servers under the Sitronics brand received declarations of conformity, certification communications and expert opinion. With the leading manufacturers of software products from Russia all tests passed successfully. Such solutions are suitable for various tasks, such as virtualization cloudy computing, analytics big data and high-performance computing. As of October 2021, a pilot batch of three models with a volume of more than 60 servers designed for testing by the company's partners was released. Partnership agreements have been concluded with a number of large ones. distributors

The total volume of our investments related to the development, acquisition of license rights, design documentation and capital costs amounted to 500 million rubles. We are confident that this domestic product will be appreciated on the market, which will contribute to the implementation of digital transformation projects in the country, "commented Nikolai Pozhidaev, President of SITRONICS Group.

The development of the server project by Sitronics Group began in January 2021. The Novosibirsk plant Lampiris was chosen as the production site. The plant's facilities and equipment allow for full-cycle production, including board placement, soldering, surface installation, metal enclosure manufacturing, software design and loading (BIOS). Testing and technical control are carried out at all stages of production.

In the Novosibirsk region, an IT cluster has been formed on the basis of well-known scientific schools of Akademgorodok, a high concentration of highly professional specialists. Therefore, the launch of high-tech production of Sitronics servers in the region is jobs for graduates of engineering and technical universities of the cluster and an increase in tax revenues to the regional budget, "said Deputy Governor of the Novosibirsk Region Sergey Semka.

The plant organized the work of designers and the entire development process, which made it possible to effectively and quickly implement the task of launching production. The area and equipment of the enterprise will allow Sitronics Group to produce more than 30 thousand north per year.

Sitronics acquired Satellite

Logo in 2021

On August 24, 2021, Sitronics announced that it had entered the capital of the Russian private company Satellite, which produces nano- and micro-satellites, space components and technologies. Read more here.

Sitronics will produce Huawei servers

At the end of February 2021, it became known that Huawei had agreed with Sitronics to localize the production of its server equipment. The Russian company will begin supplying such equipment, assembled by order of a Chinese partner, in May.

Agreement with the Tyumen Industrial University on the creation of a competence center in the IT sphere

The Citronics Group of Sitronics and the Tyumen Industrial University agreed to create a technological educational and research cluster on the basis of the university for the development of digital competencies of personnel potential. This was reported on April 7, 2021 in Sitronics. Read more here.

Chief information officer "Rusagro" went to work in "Sitronics"

In February 2021, Pavel Dreiger, Chief information officer of the Rusagro holding, joined Sitronics as vice president of software products and solutions. Read more here.

Purchase of drone developer "Kronstadt Technologists"

On February 16, 2021, it became known that Sitronics was acquiring a 100% stake in Kronstadt Technologies (CT) from Kronstadt JSC controlled by Sistema. Read more here.

2020

Revenue growth by 184.2% to RUB 29,523 million

At the end of 2020, Citrinix's revenue amounted to 29,523 million rubles, an increase of 184.2% compared to 2019, which allowed it to take 21st place in the ranking of TAdviser100: The largest IT companies in Russia 2021.

The entourage of the owner of Vodafone Ukraine buys the Ukrainian "daughter" of Sitronics

On October 13, 2020, it became known that the Antimonopoly Committee of Ukraine (AMCU) approved the sale of Sitronics Telecom Solutions Ukraine to the close of the owner of the NEQSOL Holding group of companies Nasib Hasanov, who is the beneficiary of 100% of the second largest Ukrainian mobile operator Vodafone Ukraine. The financial terms of the agreement were not disclosed. Read more here.

Participation in the TAdviser conference "Smart control systems or new video analytics"

On July 09, Alexandra Shchipacheva, Director of the Business Development Department of SITRONICS JSC, will speak at the TAdviser 'Smart Control Systems or New Video Analytics' conference, partnered by SITRONICS.

Alexandra will share cases using biometrics and reveal several topics in her report:

• Global trends in contactless pass control systems and video analytics;
• How the pandemic has affected the development of digital services;
• Relationship of generations Y and Z to the safety issue;
• Practical side biometric of data use;

Join the online conference via the link

Appointment of Nikolai Pozhidaev to the presidency

Logo in 2020

On July 2, 2020, Sitronics announced that Nikolai Pozhidaev had become president of the company. Alexey Marukhin, who headed the company for the past year and a half, will focus on the development of the commercial and project blocks of Sitronics JSC as vice president for sales and project management. Read more here.

2019

Agreement with Proteus STC in the field of security

On November 20, 2019, SITRONICS announced that, together with the PROTEI scientific and technical center, they signed an agreement on cooperation in the field of security, telecommunications solutions and solutions for government agencies. The companies will combine their competencies to develop solutions that will increase the efficiency of the special services in any emergency and simplify the adoption of management decisions at the regional level.

The agreement implies the cooperation of SITRONICS and the PROTEI Scientific and Technical Center in the implementation of a number of digitalization programs in the regions of the companies' presence, including the deployment of security systems, video conferencing systems, video surveillance and analytics, the development of telemedicine and telecommunications solutions. Partners have a strong niche expertise in security issues and in working in the regional market: the solutions of the PROTEI STC are implemented in dozens of cities of Russia, the SITRONICS expert office is deployed in Moscow, Kaluga, Novosibirsk and Samara regions and the Republic of Ingushetia.

Cooperation of Russian companies in the field of IT technologies will allow us to reach a different level of development and will contribute to the implementation of the concept of building a digital society. Our experience in creating complex complex solutions based on our own equipment, supplemented by the competencies, capabilities and financial instruments of our partners, will help in the development and implementation of innovative solutions at all levels of interaction between the state and the population, said Alexander Breganov, Deputy Director of STC PROTEI LLC

We are united with the Scientific and Technical Center of PROTEUS not only in the sphere of interests, but also in understanding the fact that the introduction of the "Safe City" in the regions is not only providing a solution, but also correctly assessing the specifics of the tasks of a particular region, the maturity of a single infrastructure. A universal technological solution that will bring together the best of the experience of security market leaders is exactly what we have to work on together, and we see great potential in cooperation with strong partners, noted Elena Shulgina, Vice President for Strategy of SITRONICS JSC

Agreement with Rusat Infrastructure Solutions on the development of smart cities

RuSat Infrastructure Solutions LLC (part of Rosatom State Corporation) and Sitronics JSC will combine developments in the development of the digital industry of cities. The companies announced this on May 15, 2019 in connection with the signed agreement of intent to develop joint projects. As promising areas of cooperation, the introduction of digital platforms and elements of the "Smart City" in the improvement of public territory, the creation of technological infrastructure and data centers, including on the basis of the principles of public-private partnership, and others are considered. Joint pilot projects in a number of regions are planned to be launched this year.

RuSat Infrastructure Solutions coordinates the advanced technologies of Rosatom for digitalization and urban management. A distinctive feature of Rosatom's approach is the reliance on the lean and smart city methodology - Lean Smart City, the essence of which is to continuously improve processes within municipalities, which allows you to effectively use city services, respond faster to the needs of citizens and businesses.

The Lean Smart City project of Rosatom has already been implemented in the city of SarovNizhny Novgorod Region on the basis of a single integration platform that collects, integrates and analyzes data from all sources of urban data, flexibly interacts with the existing digital infrastructure and allows integrating new structural units and digital services into a single smart system. One of the main elements of the platform is the "active citizen" functionality, which allows the city administration to receive feedback and quickly solve current problems, involving residents in the process of creating a "smart" and comfortable urban environment.

As an integrator of Smart City solutions, our company is interested in selecting the best practices and technological solutions in the field of digitalization and creating a comfortable urban environment that will be in demand when replicating our Lean Smart City technology in Russian cities, - said Ksenia Sukhotina, General Director of RuSat Infrastructure Solutions LLC.

The expert office of "Sitronics" acts as a driver for the implementation of national projects and the creation of digital infrastructure in the regions. As part of the implementation of national projects, Sitronics is ready to adapt Rosatom's technologies to the local needs of the regions, the company said.

Sitronics also intends to continue developing the ecosystem of technological partners, including not only state corporations, but also development institutions, industry associations, technology companies and local players. Earlier, Citronics concluded agreements on strategic cooperation in the areas of "smart city," "digital public administration," "digital medicine," "digital education" and "smart housing and communal services" with Kaluga, Novosibirsk and the Republic of Ingushetia.

Partnership with IPCHAIN

Sitronics is increasing its base of technological partners, including in the field of protecting intellectual rights: on April 10, 2019, the company officially became a member of the project IPChain - a decentralized network of transactions with intellectual property rights and objects developed by the Association's specialists. Earlier, IPChain joined the network Rospatent and. Intellectual Rights Court

The distributed register of IPChain allows us to build a new interaction between the state and industries - to move from a model of public services, which does not allow achieving ultra-high speeds of creation and launch of intelligent products on the market, to a model of continuous interaction of market participants in the "real time" mode.

As the operator of the IPChain project, Sitronics accumulates intellectual rights and technological developments for further use by other market participants. Developing a partner base, Sitronics attracts technological partners to the implementation of national projects for the digitalization of technological partners, works with clusters of state corporations and considers various types of cooperation with companies of different levels of maturity - from startups to global players.

2013

Trouble paying bonuses to managers

In March 2013, it became known that the managers of OJSC Sitronics - former and current - are preparing to file a lawsuit against the company. In 2010, "phantom" shares were assigned to them, for which payments were to be charged for three years in a row. Two payments - in 2010 and 2011 - were made, and the third - in 2012 - has not yet been made, despite the availability of all the necessary documents. In total, we are talking about 56 million rubles.

ComNews was told about the emergence of problems with the payment of compensation by one of the former managers of Sitronics. So far, the participants have limited themselves to sending letters to the President of Sitronics OJSC Alexei Shavrov and Chairman of the Board of Directors of the company Alexander Goncharuk.

The program of long-term financial incentives for employees of JSC Sitronics was adopted at the initiative of AFK Sistema by the Board of Directors of JSC in early 2010. The decision was formalized as an appendix to the employment contract and signed by each participant of the program, under which phantom shares not intended for sale were assigned to employees of Sitronics in 2010 and 2011. In 2012, due to the restructuring of the company, shares were not assigned to employees. However, the board of directors decided to redeem and repay in 2012 the remaining "phantom shares" at the price at the date of completion of the delisting of GDR "Sitronics" from the London Stock Exchange (LSE).

Delisting of the company took place at the end of August 2012. The value of the shares redeemed from the market at that time was $0.92 per GDR (corresponding to 50 shares of Sitronics), in 2007, when the company went public, one GDR cost $12. The delisting of shares was preceded by a number of organizational measures to restructure the entire high-tech business of Sistema, which led to the fact that almost all assets were withdrawn from the operational management of Sitronics: they were managed by Sistema in early 2011. OJSC RTI Groups (84.6% of the shares are owned by AFK, another 15.4% were bought by the Bank of Moscow). At the same time, RTI Group itself consolidated 100% of Sitronics shares.

Compensation payments for "phantom" shares were to take place before February 28, 2013. This decision was made by the Board of Directors of Sitronics back in December 2012, and on January 30, 2013, the President of the company Sergey Aslanyan signed a corresponding order. However, already on February 1, having worked in the company for more than five years, Aslanyan left it. His place was taken by Alexey Shavrov.

The new management did not rush to fulfill obligations to employees. "There is no evil will in this," says another of the former top managers of Sitronics, who also did not receive the compensation due to him. "It's just that the new operating management, in the absence of revenue, does not want to take responsibility for fulfilling any expenditure obligations

A company source told a ComNews reporter that the payments were delayed due to purely technical issues, including the need to reissue accounts. "This is due to the current situation in the company, from which key managers left," he explained.

As one of the participants in the program told ComNews, initially it concerned about 60 people, but since the conditions were different for everyone, at the moment there are about 40 people left holding "phantom" shares. "Legally, they are divided into several groups: someone is still working at Sitronics, someone has gone to another job, someone has not yet found a place for themselves, so if the case comes to court, there will apparently be several class action lawsuits," the source tells ComNews. "But I would not like to bring to court, because for all of us" Sitronics "is not the worst joint years and an extremely positive experience."

Nevertheless, if the problem is not resolved during the second half of March, the lawsuit will still take place. "Now the initiative group is in constant contact with lawyers," a source assured a ComNews reporter.

this situation, the likelihood of collecting the third tranche of payments is very high, since the company previously recognized the legality of payments," says Vladislav Dobrovolsky, head of corporate practice at the Yakovlev & Partners legal group. - In any case, the court will investigate the legal nature of the payments: if this is a bonus, and the company has justified, proven claims against the employee, then the dispute can be resolved in favor of the employer, since the role of a particular employee is questioned. But, generally speaking, by default, employees are recognized as bona fide, unless proven otherwise. If, under the contract, the company, regardless of the circumstances, is obliged to pay the employee the specified amount, then, probably, the court will decide in favor of the plaintiffs. "

Yuri Urlichich appointed CEO

In June 2013, Alexei Shavrov, who led the company for three months, was replaced by the former Glonass system general designer Yuri Urlichich. Less than a week earlier, the AFC board of directors discussed and took note of the new Sitronics development strategy presented by the team led by Shavrov. AFK has no questions for this strategy, Belous says: Shavrov left of his own free will. This was confirmed by a person close to Sitronics^[3]

Back in early 2013, AFK decided to revive Sitronics, which by that time had delisted with LSE and transferred the main assets to the parent concern RTI Group (microelectronics production) and NVision Group, 50% plus 0.5 shares of which belong to RTI Group (IT-Business and development of telecoms solutions). The idea was to allocate non-defense assets from the RTI Group and transfer them to Sitronics, Vladimir Yevtushenkov, the main owner of Sistema, told Kommersant in January 2013. In particular, Sitronics was planned to transfer:

• a joint research and development center in China with ZTE,
• Greek telecommunications equipment manufacturer Intracom Telecom,
• operator of satellite navigation system GLONASS"," "Navigation and information systems" (NIS)
• system integrator Citronix-KAFU"" and
• smart card manufacturer Sitronics Smart Technology.

But the restructuring has dragged on and the team of specialists hired for it is idle, explains a person close to the "Sitronics," linking Shavrov's departure with this. Sitronics has not yet received the promised assets. And the debt needs to be serviced, adds the interlocutor of Vedomosti. At the end of 2012, short-term debt of Sitronics amounted to $214.2 million, and long-term debt - $297 million. The company ended the year with an operating loss of $37 million.

The decision to transfer assets was fundamentally made, but the timing has not yet been approved, say people close to Sitronics and RTI Group. Sistema intends to maintain the Sitronics brand.

2012: Dissolution of Sitronics Management Company

Until the fall of 2012, the company consisted of four business areas: Telecommunications Solutions, Information Technologies, Microelectronic Solutions, Consumer Services and Goods.

Sitronics included the Czech company Sitronics TS (formerly STROM Telecom), the Greek Intracom Telecom, as well as manufacturers of microelectronics (NIIME and the Mikron plant, VZPP-Micron, Quantum, Quasar-Micro - the Citronics Information Technologies brand), consumer electronics (Sitronics, Electronics), Industrial Elon. OJSC "Sitronics" served more than 3.5 thousand customers and had representative offices and branches in 32 countries, exported to 62 countries of the world.

A subsidiary, Sitronics Tatarstan LLC, operates in Kazan.

In 2012, as a result of the reorganization, the management company "Sitronics" actually ceases to exist. Its assets are divided between the companies included in AFK Sistema RTI GROUP and NVision Group"," and the number of employees by the end of the year decreased to 10-15 people. This was reported by the newspaper "" with reference to a source inside the RTI Group.Sheets

During the reorganization, Sitronics 's microelectronics division (Mikron Zelenograd plant) became RTI Group, and Sitronics (IT services) and Sitronics Telecommunications Solutions (systems production telecommunication) became part of NVision Group. Some of the employees of Citronics Management Sitronics also joined these companies, the newspaper reports. The integration of Sistema and NVision ICT assets will affect about 2,800 Sitronics employees, who are expected to join NVision until January 2013.

• OJSC Sitronics announced that OJSC RTI Group, in accordance with the terms of the voluntary offer, completed and fully paid for the acquisition of 3 476 219 122 ordinary shares of the company (including shares, the rights to which are certified by depositary receipts), which is approximately 36.411% of the authorized capital of SITRONICS. RTI Group voluntary offer to acquire up to 36.926% of SITRONICS ordinary shares from minority shareholders was received by the company on March 13, 2012, and on May 22, 2012, the deadline for participation in the voluntary offer expired.

Thus, the total ownership of RTI Group in SITRONICS reached 99.485% of the total number of ordinary shares of SITRONICS. Further, RTI Group intends to begin the procedure for compulsory buyback of shares provided for by Russian law in order to acquire the remaining 0.515% of ordinary shares of SITRONICS. RTI Group also intends to discuss with SITRONICS the start of the procedure for delisting shares and depositary receipts of the company from Russian stock exchanges and the London Stock Exchange, respectively.

On August 23, 2012, RTI Group completed the consolidation of Sitronics, forcibly buying 0.52% of the shares from minority shareholders. On the same day, the delisting of Sitronics from the London Stock Exchange ended.

On December 14, 2012, the Greek asset Intracom telecom re-initiated an option to buy out "Sitronics" the remaining 49% of the company's shares. The first time the initiation took place in 2010, then no decision was made. Intracom telecom later said it was willing to sell its stake for at least $160 million. Negotiations are underway.

• The management company "Sitronics" after a deal with NVision Group to sell two assets and transfer the direction of microelectronics to RTI Group was almost completely disbanded, TAdviser became aware of this on December 19, 2012 from a source close to the companies participating in the transactions.

So, TAdviser became known that from the staffing of more than 220 people, about a dozen are officially working in Sitronics, the rest have been reduced or quit on their own. Sitronics Vice President for Corporate Communications Irina Lanina confirmed to TAdviser her intentions to leave the company: "Yes, December 29, 2012 is my last working day here."

Its head, Sergei Aslanyan, remains in the company. According to the source, so far the legal entity has not been liquidated. "The company has quite a lot of debt to get rid of through bankruptcy. When this happens is unknown, but there is a possibility of such a scenario, "the source continued.

Konstantin Belov, an analyst at Uraslsib Management Company, expressed doubts to TAdviser that the company would be used for such actions. "Sitronics is part of AFK Sistema, and reputational risks are already coming into force here. After all, many daughters turn to banks for loans, and such actions can have a very negative effect on investment support in the future, "he said.

Earlier in the press it was reported that some of the Sitronics employees were accepted into the NVision Group, some went to the Asteros integrator, and some is in free float.

In Asteros, TAdviser reported that some top managers moved from Sitronics to the company: Alexander Krasovsky now holds the position of managing partner for business development, previously he was vice president of sales at Sitronics; Andrey Polonsky, who was responsible for strategic and sales management, was already vice president of strategy and corporate development at Asteros at the end of 2012 .

Sergei Aslanyan did not inform TAdviser about his future plans.

It is worth noting that the end of 2012 - the beginning of 2013 is a time when large personnel changes are possible throughout the AFK Sistema group. So, in February 2013, the contract of the president of OJSC MTSANDREY Dubovskov ends.

2011

Revenue growth to $1,475 million (+ 26 %)

Sitronics Group announced its financial results for fiscal year 2011. The company's consolidated revenue compared to 2010 increased by 26% to $1,475 million. OIBDA amounted to $97.1 million, OIBDA margin 6.6%. The group's net loss in 2011 is measured at $86.7 million.

Sergey Aslanyan, President of Sitronics, said that since the beginning of December 2011 the company has received contracts worth $538 million, so the next fiscal year may become more impressive. Since the beginning of 2011, the total amount of Sitronics contracts has amounted to $1817.9 million.

The proportion of long-term debt to total group debt was 44% as of December 31, 2011, compared to 29% at the end of 2010.

Revenue of telecommunications solutions in 2011 increased by 4% in annual terms to $545.5 million. Microelectronics revenue amounted to $316.4 million, growth for the year - 24%.

As for the IT division "Sitronics," the company "Sitronics IT," the revenue from the direction of information technology amounted to $492.6 million in 2011, which is 39% more than a year earlier. Net profit of Sitronics IT decreased almost three times over the last fiscal year and amounted to $4.9 million instead of $14.2 a year earlier. OIBDA amounted to $21.7 million instead of $29.1 million in fiscal 2010. OIBDA margin - 4.4% instead of 8.24%.

In the revenue of Sitronics IT, 24% fell on infrastructure solutions and system integration, 41% - on sales of telecommunications integration solutions. Another 35% - for business consulting and IT outsourcing.

Capitalization of "Sitronics" on the London Stock Exchange at the end of April - $124.1 million. Capitalization of Sitronics on the London Stock Exchange at the beginning of March 2011 - $143.2 million,

Credit rating A +

In July 2011, the National Rating Agency confirmed the creditworthiness rating of SITRONICS OJSC at the level of "A +" (high creditworthiness, first level), the forecast is "Positive." The positive outlook for the change in the rating is due to the positive dynamics of financial indicators in 2010 and the projected preservation of growth dynamics in the current year, the continuing development of the client base and partnerships, the launch of new solutions in almost all major business segments. The forecast also takes into account the likelihood of improving the financial profile of the Company, providing additional opportunities for business development and further strengthening positions in its segments in connection with the process of business consolidation with RTI Group (completion is expected before the end of 2011).

Victory in the competition for the development of the intellectual transport system of Moscow

In April 2011, it became known that the Government of Sergei Sobyanin began to introduce an intelligent transport system in Moscow, which should relieve the city from traffic jams^[4].

"Sitronics" won a competition for the development of an intellectual transport system (ITS), several businessmen working in the field of transport told Vedomosti. By the end of 2011, the company will develop the concept of ITS and create a single traffic control center, a source close to it said.

6.257 billion rubles will be allocated from the budget for the implementation of ITS in 2011, according to the Moscow transport program. Sitronics will receive this money at the end of 2011, when it will already complete the work, Vedomosti interlocutors say.

A source close to the mayor's office says that Sitronics will modernize the existing Start traffic light control system (new traffic lights, detectors, video recording systems will be purchased) and a public transport control system (it will equip Mosgortrans rolling stock with navigators). "If you call a spade a spade, so far we are talking only about modernizing the existing system," says Alexander Ovanesov, partner at Strategy Partners.

The contract with Moscow is comparable in volume to the quarterly revenue of Sitronics. Cooperation "Sitronics" with Moscow began to develop only recently, says Lanina. Until now, the company had, in fact, only one large Moscow contract - with the metro for the supply of contactless travel cards (for about $100 million).

The largest international companies were not invited to the auction, complains a top manager of the International Road Consortium (unites developers of systems and software for the transport sector - Singapore AA Traffic, French STI and British Verrus). The competition was closed, participants had to have permits from the FSO, the FSB to work with government highways, says a source close to the mayor's office. The official of the mayor's office recalls that the structure of AFK Sistema - Navigation and Information Systems - was preparing a feasibility study for one of the main components of the new transport system - a single dispatch center for passenger transport management, and is also the federal operator of the Glonass system, necessary for its operation.

Sale of the company to the RTI Group holding

On March 5, 2011, the board of directors of Sistema decided to sell 63.97% of Sitronics to RTI Group, AFK[1] President Leonid Melamed, who is retiring, told Vedomosti^[1]. Thus, "a hi tech concern is being created, in which there is money from an external partner (Bank of Moscow) and to which other potential partners may join." He did not disclose the details of the deal, saying that Sistema is selling its stake, and Sitronics will "deal with the shares circulating in the market separately when the moment comes."

The amount of the transaction has not been determined, there is only a "general approach," a source close to Sistema assures. The capitalization of Sitronics on the London Stock Exchange at the time of the announcement amounted to $143.2 million, that is, the market value of the Sistema package is $91.6 million. Sitronics shares are not popular, the market is pessimistic about the company's prospects, says Uralsib analyst Konstantin Belov. But, if Sistema looks at the company with optimism, a premium to the current capitalization cannot be ruled out, he suggests.

From the point of view of the credit profile of Sitronics, any reorganization will be positive, says Yulia Pribytkova, senior analyst at Moody's rating agency: all changes will be aimed at increasing the company's capital and reducing costs. In February 2011, Moody's rated "Sitronics" B3 for revision due to the weak financial performance of the company (see cut) and the uncertainty of its future. The "system" supports this company, providing it with orders and loans. The agency monitors whether this support will stop after the reorganization of AFK assets, Pribytkova notes.

There are "notable synergies" between RTI Group and "Sitronics," Melamed said, and they can help improve the business of both companies. We are talking about synergy in the field of development (R&D), distribution and marketing, he said. This association fits into the new strategy of AFK - the corporation leaves operational management in subsidiaries and relies on management expertise, said Anna Kurbatova, an analyst at Gazprombank. Combining high-tech business in one company will allow, in her opinion, to carry out larger projects and apply for a larger number of government contracts, which is very important given the fact that the state is the main customer in the field of IT and microelectronics. RTI Group, according to Kurbatova, has great growth potential due to the expansion of the state defense order and projects in the Glonass region. "Sistema" will not have to share "Sitronics" with minority shareholders, Kurbatova notes.

One of the largest minority shareholders of Sitronics is JPMorgan Asset Management, which collected 7.28% of its shares. The buyback of minority shareholders may not be required, since the ultimate owner of the shares does not change, warns Belov from Uralsib.

2010

Loss for the year $45.6 million

Citronics ended 2010 with a net loss, although it cut it 2.6 times to $45.6 million. But the company's revenue for the year increased by 14% to $1,166 billion, OIBDA increased 15.8 times to $105.6 million, so OIBDA profitability increased from 0.7 to 9.1%^[1].

Sitronics President Sergei Aslanyan, who promised to break even the company at the end of 2008, explained that the achievement of this goal is hindered by high debt ($483 million) and the cost of organizing the production of 90 nm microchips - a joint project with Rusnano.

The recovery of Sitronics of 's business is faster than expected, said Uralsib analyst Konstantin Belov (predicted OIBDA at $76-86 million in 2010). Sitronics is emerging from the crisis, analysts at Rye, Man & Gor Securities agree. But the debt burden remains high, Belov states. This could prevent the company from simultaneously maintaining cash flow generation and investing in launching new products, he adds.

IT services were best sold Most of the large contracts are traditionally in the IV quarter, said Irina Lanina, vice president of Sitronics. In addition, many customers unfrozen their IT budgets and the effect of deferred demand worked, adds Lanina. According to her, the main drivers of growth were projects with other subsidiaries of AFK Sistema - the introduction of SAP in Bashneft, a contract with MTS for the supply of Oracle licenses, as well as contracts with Sberbank in Russia and Ukraine and Svyazinvest, she says.

• IFRS, 9 months 2010: revenue - $682.5 million, net loss - $64.8 million.
• Sitronics 's revenue in the third quarter of 2010 was almost unchanged compared to the same period in 2009, and decreased by 16.6% compared to the second quarter; the company is still unprofitable. Sitronics has a large debt ($745.1 million), and most of the investment goes to long-term projects.
• Net losses of OJSC Sitronics decreased in the first quarter of 2010. 1.6 times, amounting to $28.4 million * Consolidated revenue increased by 22% to $190.8 million. (US GAAP).

Revenue in the information technology segment increased by 73% to $33.5 million, in the microelectronics segment - to $44.6 million (+ 54%), revenue in the telecommunications solutions segment amounted to $107.5 million (+ 2%).

OIBDA in 2010 Q1 amounted to $7.4 million against a negative indicator of $6.9 million a year earlier.

S.Aslanyan told RBC that the company intends to become profitable in 2011. According to him, "Sitronics" has developed an appropriate program for the company's profitability.

"We are working hard to do this in 2010, but it is likely to be difficult, so in 2011. we plan to reach profitability, "he said.

Creation of Sitronics Tatarstan

September 15, 2010 "Sitronics" announced the opening of a subsidiary in Kazan - LLC "Sitronics Tatarstan." General Director of Sitronics Tatarstan Grigory Tamashevichus.

2009

EBRD €120m loan

In July 2009, Sistema announced a three-year loan of €120 million from the European Bank for Reconstruction and Development (EBRD). It was announced that the loan provided by the EBRD AFK Sistema will be used to finance high-tech projects of Sitronics. Sistema also bought its stake in Sitronics from the EBRD - thus, the bank exercised the put option received in September 2006 during the acquisition of 3.074% of Sitronics shares from Sistema. The amount of the transaction, according to two sources close to it, is about $87 million. The liabilities will be refinanced through a loan.

Manager Option Program

On July 29, 2009, managers of Sitronics increased their stakes in the company as a result of the third stage of the option program.

Sitronics CEO Sergei Aslanyan became the owner of 0,687% shares (the previous share, after paying taxes on the 2nd option, was 0,436%), NIIME and Micron CEO Krasnikov Gennady Yakovlevich - 1,824% (1,726%), Vice President for Corporate Development Konstantin Khachaturov - 0,092% (0,058%), First Vice President for the Development of New Products and Technologies Nihad Khurem - 0,479% (0,284%), Vice President for Corporate Property Oleg Shcherbakov - 0.34% (0.2%).

Recall that as part of the option program, the managers participating in it can purchase in 2007-2010. 7.832% of Sitronics shares in four tranches at a price of 1 ruble per share. Under the terms of the program, participants exercise the right to purchase shares in several tranches - 16.7% each in 2007, 2008, 2009. The remaining part in the amount of 49.9% of shares, participants of the option program are entitled to purchase in 2010. Managers will be able to sell shares after 2010.

In total, 23 managers participate in the Sitronics option program. To launch the program in March 2006, Sitronics established a subsidiary, Sitronics Management.

Election of a new Board of Directors

• Sergei Boev - since July 2009, Chairman of the Board of Directors of Sitronics, Vice President of AFK Sistema, Head of the High Technologies and Industry Business Unit;
• Denis Muratov - Non-Executive Director

On June 30, 2009, Sitronics shareholders elected 11 members of the company's Board of Directors. Thus, the members of the Council were:

• Anton Abugov - First Vice President of AFK Sistema, Head of the Strategy and Development Complex;
• Yuval Almog - Chairman of the Board of Directors of Coral Group;
• Sergey Aslanyan - President of Sitronics;
• Anatoly Ballos - Member of the Management Board, Deputy Chairman of the State Corporation "Bank for Development and Foreign Economic Activity (Vnesheconombank)";
• Alexey Buyanov - Senior Vice President of AFK Sistema, Head of Finance and Investment;
• Dmitry Gaev - Head of the State Unitary Enterprise "Moscow Metro";
• Denis Muratov - Member of the Board of Directors of Sitronics;
• Kirill Poltevsky - Director of the Strategy Department of the High Technology and Industry Business Unit of AFK Sistema;
• David Hidasheli - Executive Vice President of the External Relations Complex of AFK Sistema;
• Nihad Khurem is Sitronics 's first vice president of new product and technology development.

2008: Loss - $53 million

The devaluation of the ruble prevented Sitronics from fulfilling its plans to become profitable in 2008. The company's losses from exchange rate differences in 2008 amounted to $55 million, and the net loss decreased from $233.9 million to $53.9 million. Revenue increased by 23.5% to $2 billion, the OIBDA indicator amounted to $133.1 million (loss of $101.1 million in 2007). Due to the crisis, Sitronics will also reduce capital expenditures by three times in 2009 - to $60 million.

The total number of Sitronics employees is over 10 thousand people, of which about 4.5 thousand are engaged in the field of research and development.

2002-2007

The Sitronics company was established in December 2002 as the Scientific Center Concern, which merged the Russian microelectronic enterprise NIIME and Micron OJSC and the Czech manufacturer of telecommunications equipment and software Strom Telecom.

In July 2004, a controlling stake in the Ukrainian company Quasar-Micro, one of the largest IT companies in Ukraine, was acquired. On its basis, a business area was created that deals with IT services. In 2005, the assets that were part of the Scientific Center Concern, as well as Quasar-Micro and Sitronics CJSC, which produces consumer electronics under the Sitronics brand, were merged into Citronics OJSC. In June 2006, Sitronics acquired a controlling stake in the Greek company Intracom Telecom.

In February 2007, Sitronics placed a 17.55% stake on the London Stock Exchange and raised $356.4 million, which was aimed at introducing new technologies and developing the company.

Notes